Calnex Solutions (LON:CLX) Trading Up 13.2% - Time to Buy?

Calnex Solutions plc (LON:CLX - Get Free Report) traded up 13.2% during trading on Monday . The company traded as high as GBX 59.68 ($0.81) and last traded at GBX 58.12 ($0.79). 236,800 shares were traded during mid-day trading, an increase of 162% from the average session volume of 90,360 shares. The stock had previously closed at GBX 51.35 ($0.70).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 115 price target on shares of Calnex Solutions in a report on Wednesday, May 21st. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of GBX 115.

Calnex Solutions Stock Performance

The stock has a 50 day moving average of GBX 50.95 and a 200 day moving average of GBX 50.35. The company has a quick ratio of 3.22, a current ratio of 4.15 and a debt-to-equity ratio of 1.52. The company has a market capitalization of £56.03 million, a price-to-earnings ratio of 17,708.33 and a beta of 1.86.

About Calnex Solutions

Calnex Solutions designs, produces and markets test and measurement instrumentation and solutions for the telecoms and cloud computing industries. Calnex's portfolio enables R&D, pre-deployment and in-service testing for network technologies and networked applications, enabling its customers to validate the performance of the critical infrastructure associated with telecoms and cloud computing networks and the applications that run on it. To date, Calnex has secured and delivered orders in 68 countries across the world.